Coin of the 3rd SMP (Chorus Block Dollar)

The Chorus Block Dollar (in-game item: Chorus Plant block) was the official currency of the 3rd SMP. The Coinage Act of Feb. 2022 introduced the Chorus Dollar, a fiat currency, and authorized the server Treasury to issue and distribute dollars and maintain a stable exchange rate with in-game commodities such as iron, gold, and diamonds. 

The currency was not backed by a commodity like diamonds, as it was "printed (drawn from Creative)" and centrally distributed by the Treasury. Its value was established by the law itself rather than intrinsic material worth. The exchange rate was not free-floating but actively managed and pegged to a basket of commodities to "compensate for the constant extraction of resources." Overall, the centralization of the Chorus Dollar meant the server economy's stability was heavily reliant on the competence and integrity of the SMP government officials. 

Background

Per the 3rd SMP Constitution, the Judicial Congress has the power "to coin money and regulate the value."